Bombardier to Cut 2000 Jobs in Canada, 5,500 More Worldwide

Aviation and locomotive giant Bombardier says it’s cutting another 7,500 jobs around the world over the next two years, including 2,000 here in Canada.

The Montreal-based company says cutting their labour force will save around US$300 million a year, and will lead to profitability by 2020.

The latest cuts are on top of 7,000 positions already on the chopping block for the end of 2017.

Bombardier has been struggling because of heaving spending on new aircraft, a slowdown in business jet demand, and production challenges for its railway products.

The manufacturer says the job losses will be partially offset by more than 3,700 strategic hirings as they ramp up production of their CSeries commercial jet and new Global 7000 business aircraft, along with delivering rail contracts to customers like the Toronto Transit Commission and Metrolinx.

Bombardier says it expects to record between US$225 million and US$275 million in restructuring charges starting in the fourth quarter.

According to its website, the company has 31,200 employees in aerospace and 39,400 in transportation.